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Financing Your Home >The Margin on an ARM When you are shopping for an Adjustable Rate Mortgage, the important thing to consider is the margin. Each time your loan is adjusted, the new interest rate will be tied to an index of Treasury notes. The margin is the percentage point above that index where your rate will be set.
Let's suppose that you have a one-year ARM with a 2.5 margin. Your initial rate was 7.5%, and during the first year of the loan, the index of 1-year Treasury notes was at 6.25%. The rate for the second year of your loan would be adjusted to 8.75%. With a margin of 2.75, it would increase to 9%. Some lenders offer lower initial rates with higher margins. In this case, the subsequent rates could be higher after the first year, than if you chose a higher initial rate with a lower margin.
If you are confused by the various mortgage offers, ask a professional mortgage broker to sit down with you and show you how it works. Today the rates and different financial possibilities are so variable that it is a good idea to talk to a mortgage broker--they usually know where the best rates can be found.
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What has a tremendous impact on the U.S. economy, comprising between $10-$15 trillion of the nation's wealth?
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Real Estate--it goes through cycles, but still has a long-term record of strong investment return. |
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Gardner Smith and Jill Oja
Snake River Properties
1260 NW Street
Wilson, WY 83014
307-690-4271
Fax: 307-733-3700
gardnertsmith@NUMBER1EXPERT.com
Gardner’s track record of success proves that Gardner T. Smith is a Jackson Hole real estate broker that never settles for business as usual. Committed to always providing the highest level of service, he will professionally and effectively guide you through all aspects of buying or selling a house.
Gardner came to Jackson Hole in 1989 from Woodstock, Vermont in the pursuit of the perfect ski season. His deep appreciation of the beauty and tranquility of the area inspired him to stay and make Jackson Hole home for his family. Gardner is involved in both the business and the non profit life of the community. He is active in the Jackson Hole Adaptive Sports chapter, Teton Science School, Journey’s School, Community Entry Services and School Board Committees. Gardner seventeen years in the building trade put his product knowledge second to none and after all isn’t it the knowledge that you’re looking for.
When Gardner is asked what he does he replies, “I match dreams to addresses.”
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